RBI announced during its bi‑monthly policy statement that it will expand the Consolidated Account Statement (CAS) to incorporate mutual funds, stocks and fixed deposits.
The change extends the Account Aggregator ecosystem, allowing NBFC‑Account Aggregators to pull data from banks, SEBI‑regulated depositories, insurance firms and NPS managers.
Under the updated framework, depositories such as CDSL and NSDL will embed bank deposit information into CAS, while RTAs like Karvy and CAMS will circulate the enhanced statements.
Analysts say the move will cut friction for consumers, reduce platform lock‑in and simplify tax reconciliation by aligning CAS with Form 26AS.
RBI said implementation will take place by December 31 2026, after which customers can choose any NBFC‑AA to access and share their consolidated financial data.
A displaced family in Mumbai, whose mother works as a cashier, expects the new statement to simplify tracking of her three‑bank fixed deposits and her mutual‑fund portfolio.